The new report by Expert Market Research titled, ‘Global Proteasome Inhibitors Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global proteasome inhibitors market, assessing the market based on its segments like products and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD xx billion
• Forecast CAGR (2023-2028): 8.4%
The proteasome inhibitors market is being driven by the rise of cancer incidence rates around the world. The rising demand for proteasome inhibitors can be attributed to their effective application in the treatment of multiple myeloma and blood cancer. The increased risk of cancer is a growing concern for doctors. Therefore, proteasome inhibitors are becoming necessary in the medical industry. Furthermore, proteasome inhibitors have been observed to sensitize malignant tumours to anti-tumour therapies like camptothecin and radiation, among others likely providing an impetus to the market. The rising emphasis on cancer awareness education and programmes from various governments and non-profit organisations are also expected to aid the proteasome inhibitors market significantly.
Industry Definition and Major Segments
Proteasome inhibitors are drugs that operate to block the function of proteasome when there is a cumulation of protein in the cell which is toxic and causes cell destruction by removing excess protein and breaking it down into its constituent parts. Proteasome inhibitors have an important application in myeloma cells as they make a lot of protein and heavily rely on proteasome to function properly. They have been approved for use in treating multiple myeloma and are being researched for other cancer treatments.
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The proteasome inhibitors market, on the basis of product, can be segmented into:
The regional markets for proteasome inhibitors include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Among these, North America represents a significant share of the global proteasome inhibitors market.
The adoption of proteasome inhibitors as research tools is likely to aid the market in the forecast period as the product can easily analyse various aspects of health-related issues. Furthermore, their adoption has resulted in rapid technological advancements in understanding cell regulation and disease mechanisms, which aid the development of potentially valuable drugs and are expected to enhance their demand further. In addition, the increasing investments by the governments of various nations in extensive research and development activities are likely to be another key trend bolstering the market growth in the forecast period.
Key Market Players
The major players in the market are Allergan Plc, Amgen Inc, Celgene Corp, Johnson & Johnson Services Inc, Takeda Pharmaceutical Co. Ltd among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.